Texas American gets $55 million second-lien term loan

By Sara Rosenberg

New York, Nov. 16 - Texas American Resources Co. obtained a new $55 million five-year second-lien term loan, according to a company news release.

BNP Paribas was administrative agent, lead arranger and bookrunner on the deal.

Proceeds from the term loan, along with borrowings under the company's existing $70 million revolving credit facility, were used to fund the $70 million acquisition of several producing properties located in the Denver-Julesburg Basin in northeast Colorado, according to the release.

Total debt at closing was about $117 million.

Texas American is an Austin, Texas-based independent energy company.

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